Net profit of Ukraine’s state ports doubles in Q1 07, y-o-y

In January-March 2007, financial result of Ukraine’s state port sector (19 commercial seaports) totaled 117.9 million hryvnias (about $23.6 million), which made 203.3% against January-March 2006, RZD-Partner reports. The growth should be attributed mostly to the results of the country’s largest ports. Number of unprofitable ports decreased from 8 in January-March 2006 to 3 in Q1 07. However, they decreased their loss in the reported period. The highest results were demonstrated by the following ports: Odessa (profit more than doubled), Mariupol (almost 5-time growth). Both ports demonstrated considerable increase of throughput - +25% and +42% respectively.

At the same time, two other leading ports: Yuzhny and Iljichevsk decreased their net profit (-15% and -37% respectively). However, they increased throughput by 2.2% and by 9.4% respectively. In January-March 2006, it was +5.4% and -6.4% respectively.